Morning journal and courier., 1887-01-22
THE WEEKLY REVIEW OF TRADE
Remark able Industrial Growth Noted
In The COuntry-MOney Easy And a
Smaller Number of EaiIuraa

| Remarkable Industrial Growth Noted
In The COuntry-Money Easy And a
| Smaller Number of Failures.
NEW YORK, Jan. 21.-R G. Dun & Co. 3
weekly review of trade says: Southern rail-
way consolidation has been the feature in
| speculative markets the past week. In other
| markets the remarkable industrial growth of
the country receives most attention.
Whether railway consolidation, which at the
North has been the fruitful mother of mo-
nopolies, will forward southern industrial
development is not yet clear. Nor is it the
question of interest to operators who look
| for large and immediate profits from rising
prices of stocks, lands, mines and mills.
But if another wave of wild speculation
should sweep over the South such ended
in the disasters following 1887, 1857 and
1878, the permanent growth and prosperity
of that region might not be promoted. The
swelling tide of industry and legitimate bust
ness is recorded in weekly
bank clearings and railway traf-
fc returns. Clearings outside of New
York are the largest ever known for the sea-
son, though Boston, Providence, Springfield
and Portland at the North and Galveston
SAAS hONeoAA
er cities report gains and the aggregate out
side of New York increased 10 1-2 per cent.for
last week. Railroad earnings thus far in
January show large gains over last year. In
December ninety eight roads gained III
per cent. and for the year 1886 the gain in
earnings was 1-9 per cent. against 1-2
per cent. in mileage. At Indianapolis the
past week 10, 482 cars were moved, a gain of
30 per cent. over the same week last year.
In many branches industrial growth is re-
markable. Silk manufacture consumed
4, 754, 626 pounds of raw silk and 1,611, IA
waste last year against 2, 562, 236 of raw silk
in 1880, having more than doubled since the
census. American paper makers are re-
joicing in large orders for
book paper from British publishers,
the use of wood pulp here having given this
country an advantage. Louisiana ground
1000, 600 tons of cane last year, averaging
one hundred pounds of sugar to the ton, but
some mills already boast $50 to 100 pounds.
The improvement is needed, since Dun's
Glasgow estimate is that the worlds produc-
ton for 1867 will be 1868, 900 tons of
sugar against 4, Ala ,651 in 1886. But this
country consumed 1888, 962 tons, only 49,
600 less than Great Britain. Speculation in
week were only 1S,000,00O bushels with
decline of nearly a cent; corn and oats
rose quarter each, oil "a, lard 1 16, and
pork twenty five cents. Bar iron was ad-
vanced by the Eastern association to 81
cents and Pittsburg coke makers are discuss
ing an advance. Pig iron and cotton are
unchanged in prices. Coffee has declined 81,
sugar 1-16 and beef is about ten cents
lower Fair orders come for cotton goods,
though many buyers here. Both export
and domestic demand for browns is good.
| So far domestic woolens have a better sale
| compared with last year than foreign. An
| attempt to raise foreign goods is met by no
advance in domestics. Cassimeres and
| wo1steds are expected to sell at last years
prices, though materials are higher and the
idea prevails that the demand for wool
ems generally may fall below last
| largely last year. A great sale of II 900
! ed since 1888, is awaited with interest.
Money is easy though foreign exchange grad
| ually rises. The treasury has taken in about
half million more than it has paid out for
| the week, but the receipts of silver at the
New York custom house have fallen to 10 3
per cent. of the whole. The business fail
ures occurring throughout the country dur
ing the last seven days as reported to-day by
telegraph number for the United States 276
and for Canada 20, or a total of 301 failures
as compared with 1928 last week, 800 the
week previous TO the last and 329 for the
corresponding week of 1886. OF the 276
failures in the United States this week the
western and Pacific States report 116 and the
southern States Sc. In New York city there
are assignments of consequence.